The Mexican Peso is the currency of Mexico and its currency code is MXN. The modern peso and dollar currencies have a common origin in the 15th–19th century Spanish silver dollar, most continuing to use its Spanish name, "peso".The first Mexican silver dollar was minted in 1732; however, the first official coin depicting a lion and featuring an inscription of "VEINTIUN PESOS" ("21 PESOS") was not minted until 1761. Since 1821, when Mexico achieved independence from Spain, it has been one of several national currencies alongside other former Spanish colonies' as well as newer republics' like Guatemala's quetzal and Costa Rica's colón.A decimal-based coinage system debuted in 1863 using cents (centavos) worth 1⁄100 of a peso. On 21 September 1873, so-called fractional paper money was issued for 50 centavos but this lasted only two years. Banknotes were also issued for $1 ₱1000 Pesos by Banco de Londres y México (Bank of London & Mexico) from 1894 to 1898. These were followed by notes for $50 Pesos from 1898 to 1901 and then again for $50 Pesos by Banco Nacional de México (National Bank of Mexico) from 1914 onwards.
